REGISTERED NUMBER: 01762778 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

A. B. Cholerton Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A B Cholerton

Mrs M Cholerton

SECRETARY:

Mrs M Cholerton

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

BUSINESS ADDRESS:

147 Swarkestone Road

Chellaston

Derby

Derbyshire

DE73 6UD

REGISTERED NUMBER:

01762778 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

1

169

Investment property

5

1,834,225

1,317,000

1,834,226

1,317,169

CURRENT ASSETS

Debtors

6

2,005

1,382

Cash at bank

182,892

156,070

184,897

157,452

CREDITORS

Amounts falling due within one year

7

949,787

407,235

NET CURRENT LIABILITIES

(764,890

)

(249,783

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,069,336

1,067,386

PROVISIONS FOR LIABILITIES

8

24,793

31,387

NET ASSETS

1,044,543

1,035,999

CAPITAL AND RESERVES

Called up share capital

138

138

Share premium

9

153,862

153,862

Other reserves

9

284,131

284,131

Fair value reserve

9

145,272

138,678

Retained earnings

9

461,140

459,190

SHAREHOLDERS' FUNDS

1,044,543

1,035,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 January 2018 and were signed on its behalf by:

A B Cholerton - Director

1.	STATUTORY INFORMATION

A. B. Cholerton Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts derived from the provision of rental properties to customers during

the year. Rental income for the use of premises are accounted for in the year in which the services are

provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Investment property

Investment property is not depreciated but is revalued annually at its fair value in accordance with the

Financial Reporting Standard 102 (Section 1A) which is contrary to the requirement of the Companies

Act 2006 for all fixed assets to be depreciated. Any aggregate surplus or deficit arising from changes in

fair value is transferred to a fair value reserve.

Deferred tax

A provision is made at current rates for taxation deferred in respect of all timing differences, including

provisions made for potential tax arising on assets which have been revalued.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2016

and 31 May 2017

1,829

DEPRECIATION

At 1 June 2016

1,660

Charge for year

168

At 31 May 2017

1,828

NET BOOK VALUE

At 31 May 2017

1

At 31 May 2016

169

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2016

1,317,000

Additions

517,225

At 31 May 2017

1,834,225

NET BOOK VALUE

At 31 May 2017

1,834,225

At 31 May 2016

1,317,000

Fair value at 31 May 2017 is represented by:

£

Valuation in 2017

1,834,225

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

298

-

Prepayments

1,707

1,382

2,005

1,382

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

5,401

5,908

Social security and other taxes

3,562

13

Other creditors

409,714

-

Directors' current account

521,583

396,214

Accrued expenses

9,527

5,100

949,787

407,235

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Property valuation

24,793

31,387

Deferred

tax

£

Balance at 1 June 2016

31,387

Provided during year

(6,594

)

Balance at 31 May 2017

24,793

9.

RESERVES

Fair

Retained

Share

Other

value

earnings

premium

reserves

reserve

Totals

£

£

£

£

£

At 1 June 2016

459,190

153,862

284,131

138,678

1,035,861

Profit for the year

28,257

28,257

Dividends

(19,713

)

(19,713

)

Revaluation adjustment

(6,594

)

-

-

6,594

-

At 31 May 2017

461,140

153,862

284,131

145,272

1,044,405

10.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the year ended 31 May 2017.

The transition date is 1 June 2016.

There was one transition adjustment which was to include a provision for deferred tax on the revalued

investment property which reduced reserves brought forward at 1 June 2016 by £31,387.